Recondo Technology Announces Consolidated Hospital and Physician Statements

GREENWOOD VILLAGE, Colo., April 7 /PRNewswire/ -- Recondo Technology, a leading provider of revenue cycle solutions for the healthcare industry, announced today that Recondo® has released Global Patient Financial Responsibility (GPFR) as part of the company's SurePayHealth® Software as a Service offering for hospitals. SurePayHealth GPFR integrates both hospital (facility) and physician (professional) charges on the same patient statement.

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"A global statement can improve a hospital's financial performance," said Rick Adam, Recondo Founder and CEO. "Hospitals tell us they've waited years to have this capability to immediately show how much each patient owes the hospital and how much each patient owes the doctor. A global statement is also more understandable for the patient."

"The New York Times just reported that as recently as 2005, more than two-thirds of medical practices were owned by the physicians themselves," continued Adam. "But now more than 50 percent of US physicians are working directly for and getting paid by healthcare systems. GPFR helps these integrated delivery systems print and present statements of patient financial responsibility, accurately detailing charges for the hospital facility and the respective physicians, such as surgeons and anesthesiologists."

About Recondo Technology

Recondo Technology delivers powerful software services that connect patients, providers, and payers across the spectrum of US healthcare. Recondo services bring efficiencies and cost savings to healthcare payment processing, which currently costs US healthcare a staggering $375 billion in annual expense. Recondo services automate the revenue cycle and payment cycle, from pre-scheduling to adjudication, with virtually no manual intervention.

SurePayHealth® offers an accurate statement of patient financial responsibility at Point of Service, verifying patient identity, eligibility, and benefits, and accurately calculating the patient fee. After activating SurePayHealth, hospitals increase cash collections by tens of thousands of dollars every month.

EligibilityPlus™ gives hospitals the most complete view of government and commercial patient insurance benefits available in the industry. With a complete understanding of insurance benefits, hospitals immediately identify specific coverage, simplify patient registration workflows, reduce claim rework, and assess patient liability.

Authorization-Denial Prevention (Auth-DP™) increases cash flow by reducing a hospital's costly payer denials. Auth-DP identifies precertification requirements and authorization at the front of the revenue cycle, increasing authorization coverage and reducing denials by as much as 75 percent. Omni278™ offers hospitals an easy-to-implement service for delivering the required admission notification to UnitedHealthcare. Omni278 accepts admission data in a variety of forms, including an electronic file, an email message, a phone call, or a fax. Omni278 converts this information into a 278 transaction and submits it electronically.

Recondo services are Software as a Service (SaaS), requiring no capital budget and no additional hardware or software installation. Recondo services are developed using high-speed, high-volume rules-based processing, giving hospitals unmatched and immediate access to real-time data. Visit Recondo Technology at www.recondotech.com.

Recondo and SurePayHealth are registered trademarks of Recondo Technology. EligibilityPlus, Auth-DP, Omni278, Financial Medical Record, Patient Resource Management, and Powered by Recondo are trademarks of Recondo Technology. All other trademarks and registered trademarks are the property of the respective trademark holders.

SOURCE Recondo Technology